Recession themed coins to enter circulation in 2014

The Royal Mint has released details of the new series of ‘recession’ themed designs that will feature on the 50p, £1 and £2 coins.

The new design of the £2 coin will feature the Dickens' character Mr Micawber in debtor’s prison and encircled by the Latin words ‘Nil Desperandum’. It will be the first coin in a series to mark the recession and, according to a Royal Mint spokesman, “designed to put a little warmth and cheer back into people’s pockets.”

Continuing the Dickensian theme, the design for the £1 coin will portray the sickly and angelic little boy, Tiny Tim lying at death’s door and encircled by a collection of broken NHS crutches.

The Royal Mint spokesman continued “As well as being let down by the health provision at the time, Tiny Tim’s survival also hinged in the balance of a rich man’s transformation into a better man. Obviously this is something which the banking sector has been working on post Fred Goodwin so it is a perfect design choice.”

Plans for a Scottish 50p coin based on a captivating image of a drunken and homeless Glaswegian man have been put on hold until after the referendum. In the meantime the new coin will depict a tin of basic baked beans and a tin opener to celebrate the opening of thousands of food banks across the country. The winning design came just ahead of a trio of Wonga Puppets, Betty, Earl and Joyce.

Chancellor George Osborne has welcomed the announcement by the Royal Mint.

"Congratulations must go to the Royal Mint for diverting the British public’s thoughts away from the worthlessness of the coins by shoving incredible works of art on to their flip sides.”

In a separate move the Royal Mint has also hinted at the restoration of the 1/2p coin for major transactions.